Volume sales of drinking milk products are set to see a slight contraction in 2021, as sales normalise following the atypical spike in demand in 2020. In 2020, lockdown, restrictions on retail and foodservice access and more consumers working or studying from home (as well as a certain amount of stockpiling of shelf-stable products) meant that more drinking milk products were bought of domestic production.
There has been significant disruption to drinking milk products caused by the “Precios Maximos de Referencia” policy. The pricing programme, which aims to protect prices of staple products during the crisis, has not been set out with joint input between producers and the government.
Other milk alternatives is set to see exceptional growth in both volume and value terms in 2021. These products are relatively new to Argentina, a factor in these products’ growth.
Despite the surge in consumer demand for shelf stable milk as a result of lockdown, fresh milk is anticipated to see volume sales continue rising over the forecast period. Fresh milk is cheaper, and as the country struggles to resolve its financial difficulties, many consumers will need to focus more on pricing.
The immediate future of the Precios Maximos de Referencia programme is uncertain, but without doubt the Precios Cuidados programme will continue in the short term. However, the portfolio of brands within the program is changing, which is set to drive fluctuations in share.
Fat free fresh milk and shelf stable milk are expected to see strong growth in volume terms over the forecast period, driven by accelerating consumer health trends that have picked up pace over the course of the pandemic. There is widespread understanding in Argentina of the negative links between obesity and COV ID-19, and more people are seeking to manage their diets and their weight to maintain health.
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Understand the latest market trends and future growth opportunities for the Drinking Milk Products industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Drinking Milk Products industry in Argentina, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Drinking Milk Products research and analysis database.
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